Question

Listed below are the transactions of William Brown, D.D.S., for the month of September Sept. 1 Brown begins practice as a dentist, invests $20,160 cash and issues 2,016 shares of $10 par stock. 2 Purchases dental equipment on account from Green Jacket Co. for $17,580. 4 Pays rent for office space, $650 for the month. 4 Employs a receptionist, Michael Bradley. 5 Purchases dental supplies for cash, $870. 8 Receives cash of $1,540 from patients for services performed. 10 Pays miscellaneous office expenses, $410. 14 Bills patients $5,960 for services performed. 18 Pays Green Jacket Co. on account, $3,890. 19 Pays a dividend of $2,890 cash. 20 Receives $890 from patients on account. 25 Bills patients $2,010 for services performed. 30 Pays the following expenses in cash: Salaries and wages $1.780; miscellaneous office expenses $82. 30 Dental supplies used during September, $360.

Answer 1

		CASH
	Ref		DEBIT	Ref		CREDIT
	Sep,1	Common Stock	$20,160	Sep,4	Rent Expense	$650
	Sep,8	Service Revenue	$1,540	Sep,5	Dental Supplies	$870
	Sep,20	Accounts Receivable	$890	Sep,10	Miscellaneous Expense	$410
				Sep,18	Accounts Payable	$3,890
				Sep,19	Dividend	$2,890
				Sep,30	Salaries and wages	$1,780
				Sep,30	Miscellaneous Expense	$82
		Ending Balance	$12,018
		ACCOUNTS RECEIVABLE
	Ref		DEBIT	Ref		CREDIT
	Sep,14	Service Revenue	$5,960	Sep,20	Cash	$890
	Sep,25	Service Revenue	$2,010
		Ending Balance	$7,080
		SUPPLIES
	Ref		DEBIT	Ref		CREDIT
	Sep,5	Cash	$870	Sep,30	Supplies Expenses	$360
		Ending Balance	$510
		EQUIPMENT
	Ref		DEBIT	Ref		CREDIT
	Sep,2	Accounts Payable	$17,580
		ACCOUNTS PAYABLE
	Ref		DEBIT	Ref		CREDIT
	Sep,18	Cash	$3,890	Sep,2	Equipment	$17,580
					Ending Balance	$13,690
		COMMON STOCK
	Ref		DEBIT	Ref		CREDIT
				Sep,1	Cash	$20,160
		DIVIDEND
	Ref		DEBIT	Ref		CREDIT
	Sep,19	Cash	$2,890
		SERVICE REVENUE
	Ref		DEBIT	Ref		CREDIT
				Sep,8	Cash	$1,540
				Sep,14	Accounts Receivable	$5,960
				Sep,25	Accounts Receivable	$2,010
					Ending Balance	$9,510
		SALARIES AND WAGES
	Ref		DEBIT	Ref		CREDIT
	Sep,30	Cash	$1,780
		SUPPLIES EXPENSES
	Ref		DEBIT	Ref		CREDIT
	Sep,30	Supplies	$360
		MISCELLANEOUS EXPENSES
	Ref		DEBIT	Ref		CREDIT
	Sep,10	Cash	$410
	Sep,30	Cash	$82
		Ending Balance	$492
		RENT EXPENSES
	Ref		DEBIT	Ref		CREDIT
	Sep,4	Cash	$650